Harrow, Inc. (HROW) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Harrow reported revenue of $272.3M, up 36.4% from $199.6M the year before. Net income was -$5.1M (a -1.9% net margin), or -$0.14 per diluted share. Gross margin was 75.1% and operating margin was 11.2%. Operating activities generated $43.9M of cash, leaving $43.0M of free cash flow. At fiscal year end, Harrow held $399.5M in total assets against $347.4M in total liabilities, including $72.9M of cash and equivalents.
Open the full interactive Harrow financials → Quarterly statements, key ratios, valuation history and price charts.
Harrow Key Stats
| Share Price | $28.24 |
|---|---|
| Market Cap | $1.05B |
| Revenue YoY Growth | +36.4% |
| 52-Week Range | $28.24 – $54.80 |
| Shares Outstanding | 37.4 million (basic, 2026 Q2) |
Harrow Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $48.9M | $72.5M | $88.6M | $130.2M | $199.6M | $272.3M |
| Cost of Goods Sold | $14.5M | $18.2M | $25.4M | $39.6M | $49.2M | $67.9M |
| Gross Profit | $34.4M | $54.3M | $63.2M | $90.6M | $150.4M | $204.4M |
| Operating Income | $385,000 | $1.6M | $1.9M | $431,000 | $8.8M | $30.5M |
| Pre-Tax Income | -$3.4M | -$17.9M | -$14.0M | -$23.7M | -$17.3M | -$1.4M |
| Income Tax | $4,000 | $133,000 | $75,000 | $701,000 | $161,000 | $3.8M |
| Net Income | -$3.4M | -$18.0M | -$14.1M | -$24.4M | -$17.5M | -$5.1M |
| Diluted EPS | -$0.13 | -$0.69 | — | -$0.75 | -$0.49 | -$0.14 |
Harrow Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $71.6M | $89.1M | $44.2M | $70.7M |
| Net Income | $1.0M | $6.6M | -$27.6M | -$17.3M |
| Diluted EPS | $0.03 | $0.18 | -$0.74 | -$0.46 |
Harrow Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.1M | $42.2M | — | $74.1M | $47.2M | $72.9M |
| Current Assets | $40.1M | $60.7M | $118.3M | $139.5M | $189.7M | $211.8M |
| Total Assets | $57.5M | $98.3M | $157.4M | $312.2M | $389.0M | $399.5M |
| Current Liabilities | $10.8M | $9.7M | $18.6M | $49.3M | $91.3M | $96.3M |
| Total Long-Term Debt | $20.0M | $71.7M | $104.2M | $183.2M | $262.7M | $250.0M |
| Total Liabilities | $30.6M | $87.4M | $130.1M | $241.8M | $319.7M | $347.4M |
| Shareholders' Equity | $27.2M | $11.3M | $27.6M | $70.8M | $69.7M | $52.4M |
Harrow Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$1.1M | $5.1M | $1.7M | $3.8M | -$22.2M | $43.9M |
| Cash From Investing | -$981,000 | -$18.7M | -$1.7M | -$152.6M | -$33.2M | -$5.5M |
| Cash From Financing | $1.4M | $51.5M | $54.1M | $126.5M | $28.5M | -$12.7M |
| Free Cash Flow | -$2.0M | $3.3M | -$892,000 | $2.4M | -$23.8M | $43.0M |
Figures from Harrow's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Harrow financials page for every line item.
Harrow Company Profile
| Ticker | HROW |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Nashville, Tennessee |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001360214 |
Frequently Asked Questions
What was Harrow's revenue in fiscal 2025?
Harrow (HROW) reported revenue of $272.3M for fiscal 2025.
What is Harrow's annual revenue history?
Harrow's annual revenue by fiscal year: 2020: $48.9M; 2021: $72.5M; 2022: $88.6M; 2023: $130.2M; 2024: $199.6M; 2025: $272.3M.
What was Harrow's net income in fiscal 2025?
Harrow reported net income of -$5.1M for fiscal 2025.
What was Harrow's earnings per share (EPS) in fiscal 2025?
Harrow's diluted EPS was -$0.14 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Harrow generate in fiscal 2025?
Harrow generated $43.0M of free cash flow in fiscal 2025.
What was Harrow's revenue last quarter?
In its most recent reported quarter (2026 Q2), Harrow reported revenue of $70.7M.
How much debt does Harrow have?
Harrow reported $250.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Harrow are outstanding?
Harrow reported a weighted average of 37.4 million basic shares outstanding in 2026 Q2.
What is Harrow's market cap?
Based on its latest closing price, Harrow (HROW) has a market capitalization of about $1.05B.
When does Harrow's fiscal year end?
Harrow's fiscal year end, as registered with the SEC, is December 31.
Where is Harrow headquartered?
Harrow lists its business address in Nashville, Tennessee in its SEC filings.